News & Commentary
Content posted in October 2007
HCL and Misys Sign Landmark Deal in India
News  |  10/30/2007  | 
Misys to become HCL's preferred banking software partner.
Mortgage Crisis Dominates the Headlines
News  |  10/30/2007  | 
The predominant banking news this week has focused on the effects of the mortgage crisis.
It's Not the Economy That Will Hurt Bank Technology; It's Fear, Uncertainty and Doubt
News  |  10/29/2007  | 
Two years ago, I was looking for reasons that would give bank tech companies a boost in revenue and couldn't find any. This recent downturn certainly hasn't added any optimism to my gloomy outlook.
Congress Moves to Reform Mortgage Industry
News  |  10/29/2007  | 
Not everyone is happy with the specifics of H.R. 3915, "The Mortgage Reform and Anti-Predatory Lending Act of 2007."
Departures of Bank Executives Spur the Need for Succession Planning
News  |  10/26/2007  | 
Financial executives at the top leaving at higher rates compared to other employees.
First Tennessee Bank Taps Compellent SAN and Virtualization to Simplify Infrastructure
News  |  10/25/2007  | 
First Tennessee Bank taps Compellent SAN and virtualization to simplify infrastructure.
As VP of Web Development and Technology, Navy Federal Credit Union’s John Charles Herzberg Implements the Institution’s Overall Technology Vision
News  |  10/25/2007  | 
AVY FEDERAL CREDIT UNION (Vienna, Va.) is the world's largest credit union with $30 billion in assets, 3 million members and more than 6,500 employees around the world. As VP of Web development and technology, John Charles Herzberg is responsible for implementing the financial institution's overall technology vision to serve customers better, including the judicious use of bleeding-edge technologies that can coexist in a mostly mainframe environment. Herzberg says he blends the best of the tradi
Rollouts: Recent Solution Implementations, November 2007
News  |  10/22/2007  | 
Fremont Bank taps Laru ACH Clarity to monitor ACH traffic.
The Best of the Rest: Web 2.0 Early Adopters in Banking
News  |  10/22/2007  | 
Some leading financial institutions have embraced Web 2.0.
Banks Using Mobile Phone for Out-of-Band Authentication
News  |  10/22/2007  | 
Banks look to out-of-band authentication as customers seek enhanced online banking security.
Banks Are Spending More On IT, But Vendors Are Not Getting It All
News  |  10/22/2007  | 
If banks are satisfied with their technology and there's nothing new to buy, why are they spending more? I believe the answer lies in a shift from buying products to paying internal costs to move technology onward and upward. And that's something vendors haven't figured out yet.
Preparing for Tough Combat
News  |  10/22/2007  | 
New competition and security risks pose challenges for banks. But Executive Summit attendees learned how to fight these battles.
ECHO Appoints Keith Hall to Board
News  |  10/19/2007  | 
Former LendingTree exec joins board of Electronic Clearing House
National City Extends Card Processing Deal with First Data
News  |  10/19/2007  | 
National City decides to continue long-time First Data relationship.
That Minty Fresh Feeling of Aggregation
News  |  10/18/2007  | 
Is account aggregation making a comback? A new approach may present a new opportunity.
HSBC Decoupled Debit Program Expands with Pathmark
News  |  10/18/2007  | 
HSBC's merchant-based decoupled debit card program expands to Pathmark supermarkets.
Canada's Expanded PIN/Chip Debit Rollout Might Mean Trouble for U.S.
News  |  10/18/2007  | 
Will Canada's rollout of PIN/chip debit transactions mean more card security woes for the U.S. market?
Telecom Technology Factors Into Banks’ Competitive Strategies
News  |  10/17/2007  | 
With accelerating advances in telecom technology, banks increasingly are looking at their telecom strategies as a means to create competitive advantage.
JPMorgan Chase Implements Electronic Filing for Bank Secrecy Act Reports
News  |  10/17/2007  | 
JPMorgan Chase Implements centralized electronic filing for Bank Secrecy Act reports.
Mobile Wallet Will Take Time to Mature In U.S.
News  |  10/17/2007  | 
For mobile payments to catch on in the U.S., consumers, banks, merchants and carriers must work together.
SAP Scoops Up Business Objects to Add Business Intelligence Functionality to its Software
News  |  10/17/2007  | 
What does the latest business intelligence acquisition mean to financial services?
BB&T Adopts a Centralized Approach to Anti-Money Laundering
News  |  10/17/2007  | 
Financial institution centralizes anti-money laundering (AML) efforts to improve responsiveness and efficiency.
Decoupled Debit Presents Threats and Opportunities to Banks
News  |  10/17/2007  | 
Banks' demand deposit account (DDA) businesses endangered by new decoupled debit offerings. But opportunities still exist for savvy financial institutions.
Cross-Border Payments: What Role Do Banks Play in Remittances?
News  |  10/17/2007  | 
The global remittance market offers a huge opportunity for banks -- if they can find an efficient delivery mechanism, says Sibos panel.
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News  |  10/17/2007  | 
Verizon deal expands Firethorn's mobile banking operating model.
Flagstar Picks Fiserv for Electronic Mortgage
News  |  10/17/2007  | 
Flagstar Bank to use Fiserv eLending platform for mortgage business.
Bank of America's SafePass Excellent Compromise Between Security & Convenience
News  |  10/16/2007  | 
Hello. My name is Mike Ellison and I'm the EVP at Corporate Insight. I will be a regular contributer to the blog here at BS&T, focusing primarily on the retail customer experience in the online banking world.
E-Banking Message More Universal Than One Would Think
News  |  10/15/2007  | 
Well, it looks like toy maker Hasbro got the memo about moving to electronic payments. The company now offers an electronic banking version of the classic board game Monopoly. I saw a commercial for the souped up game only recently and couldn't resist writing about it.
Sometimes It Takes A Dr. Phil To Come Up With The Right Tech Decision
News  |  10/15/2007  | 
Make a bad loan. Fire the wrong person. Hire your wife to head up marketing. Open a branch near your home. Make your own commercials. Invest in MSFT. Bank at your own bank. All those mistakes can be undone at some measurable cost. But don't play politics with technology.
Why Can't Banks Get Customers to Use Cheaper Channels?
News  |  10/15/2007  | 
I know I've said it before, but I still cannot believe that people still go into the branch to withdrawal cash.
Consumer Behavior and ATM Surcharge Spikes
News  |  10/12/2007  | 
It happened with gasoline, it happens all the time with your cable bill and now it's happening (again) with ATM surcharges. Several major banks recently announced plans to increase the fees they charge non-customers when using their ATMs. So what's next?
Signs Of Entrepreneurship Are Appearing In The Bank Tech World
News  |  10/8/2007  | 
Fifteen to twenty years ago, it would have been quite ordinary to observe the large number of start-up companies based on a single-product offering under the broad heading of bank tech systems. Major events fed that creativity, including the availability of PCs, document imaging, Internet banking, check clearing legislation, telecom speeds and powerful database management systems. In recent years, however, the scene switched to a different kind of world - that of consolidation. Big companies got
Control and Cooperation the Messages at Sibos 2007
News  |  10/8/2007  | 
Another Sibos has come and gone and with it, we hope, many lessons were learned. What I saw as the most prominent message at the show was the fact that corporates the world over want more control, more say over how their payments are processed and how they interact with their banks.
SAP Scoops Up Business Objects
News  |  10/8/2007  | 
SAP (Walldorf, Germany) has announced that it intends to purchase Business Objects (Paris) for $6.78 billion. The deal is meant to enhance SAP's existing business software, including a full suite of banking solutions, with Business Objects' business intelligence capabilities
SIBOS SPECIAL: Standards and Information Key Drivers of Fed Payments Initiatives
News  |  10/3/2007  | 
The Federal Reserve discusses the need for more standards in the B2B payments space.
SIBOS SPECIAL: Bank of America's Kenneth Lewis Opens Sibos
News  |  10/3/2007  | 
Kenneth Lewis, chairman and CEO of Bank of America, spoke of the role of confidence in financial services, especially in the face of volatile markets during the opening plenary at this year's Sibos conference.
SIBOS SPECIAL: The Regional Nature of Global Banking
News  |  10/2/2007  | 
Global banking still faces hurdles in spite of global face of commerce, sayss TowerGroupp's Ted Iacobuzio.
With Three Months Left to Score Some Big Sales, Will Bank Tech Vendors Have a Banner 2007?
News  |  10/1/2007  | 
I don't think so. Recent new technologies have indeed improved processing methods for banks. In turn the new technologies provided economies for the banks. What nobody seemed to notice is that these new efficiencies forced vendors to reduce their charges to a bank because the work that vendors performed the old way has declined.
Marian Lucia Manages Change at The Federal Home Loan Bank of Atlanta
News  |  10/1/2007  | 
Meeting the needs of its financial institution clients while also meeting the organization's mission to promote affordable housing means FHLBank Atlanta's technology must support unusually large and complex transactions.
U.K. Faster Payments to Change Payments World
News  |  10/1/2007  | 
The U.K. Faster Payments initiative will have far-reaching effects on how the world views payments clearing.


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